Ford Motor Co. Stock Buy-back

November 15, 1985|By Deanne Brandon

Ford Motor Co. said Thursday it is buying 20 million of its own shares. The additional stock, on top of 10 million shares Ford said it was buying last year, will cost the No. 2 U.S. automaker about $1.5 billion. Ford chairman Donald E. Petersen said the purchase program ''reflects our belief that Ford stock is substantially undervalued and is an excellent investment for the company.'' In Thursday's trading on the New York Stock Exchange, Ford rose $2.125 a share to close at $51.125.